Within his freshly published autobiography, named Ithaki, the former premier Tsipras does not hold back as he reflects on the chaotic era during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, he selected that unorthodox academic Varoufakis as the finance minister mainly because of his international reputation and Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more like a star rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims how his finance chief possessed his own agenda that involved promoting Varoufakis's books and testing out his theories using Greece instead of genuinely advocating the country's financial survival.
Tsipras wrote that those discussions to stave off bankruptcy became “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came perilously close to exiting the eurozone.
At stake was both Greece's destiny but also those severe cutbacks required in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move that plunged Europe into deeper crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister had little option to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
When the minister proposed a contingency plan that included creating a secondary currency and distributing coupons to pensioners, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
He also wrote that his confrontational style left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has provoked fury and shock in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
